As per the evaluations of a fresh IndustryARC market research report, the global synthetic biology market was worth around $12.80 billion to $13.86 billion as of 2018. Although the current market value is humongous, the opportunities in the synthetic biology market is projected to increase at a farfetched CAGR of 36% to 38% during the forecast period of 2019 to 2025. The biomedicine and healthcare industry is the most profitable application for the synthetic biology market and opportunities in them are expected to escalate at an astounding CAGR of 40% to 42% during the aforementioned forecast duration. In terms of geographical distribution, the North American grabbed the largest share of around 41% to 43% of the overall synthetic biology marketplace as of 2018. The key factors augmenting the North America synthetic biology market growth are the demands for synthetic genes and synthetic cells across research and development efforts in the US. The report is titled “synthetic biology market: by tools (xeno-nucleic acid, chassis organisms, oligonucleotides, cloning technology kits, enzymes); by technology (DNA synthesis, DNA sequencing, computational modeling); by the application (environmental, medical, industrial); by geography- forecast (2019-2025).”
The synthetic biology is an interdisciplinary branch of biology and engineering. Formerly it was only a segment of biology but in recent years, the role of chemical and electrical engineering provided the essential principles needed to design and assemble biological components. Synthetic biology is a broad subject covering genetic engineering, biotechnology, molecular biology, membrane science, biophysics, and systems biology. The synthetic biology market demands are growing owing to its applications in vaccine and drug development, and bioproducts production such as biochemical, biofuel, and bio-based polymers.
Synthetic Biology Market Companies: Recent Developments
Some of the key players influencing the global market are:-Thermo Fisher Scientific, GenScript, Integrated DNA Technologies, Inc., OriGene Technologies, Inc., ATUM, Synthetic Genomics, Inc., Pareto Biotechnologies, Inc., and Blue Heron Biotech, LLC.
Termo Fisher Scientific
ThermoFisher Scientific is a biotechnology product development company based out of the United States. The company owns a power pack portfolio of services and tools that enable them towards an effective approach in optimizing organisms, bio-production pathways, and empowering the development of biofuels, energy crops, CO2 sequestration method, and bio-based chemicals. Life Technologies, a subsidiary of Thermofisher Scientific made an equity investment in the company Synthetic Genomics Inc.SGI’s area of concern lies in commercialization and developments of solution for genome construction, synthetic gene, food and nutritional products, bioenergy, and the development of next-generation vaccines. SGI partnered with Exxon Mobil and Bharat Petroleum for regulating programs in bioenergy.
GenScript is a New Jersey, U.S. based company that is leading in the biotechnology reagent service industry. Established in 2002, the company has expanded its reach from custom peptide synthesis, protein expression, and engineering, custom antibody development, animal model development to high-end processes such as immunotherapy, microbial industry, Contract Development and Manufacturing (CDMO) and laboratory equipment. The company established technology-driven and GMP facilitated infrastructure for pharmaceutical development and pre-clinical drug discovery along with a complete industrial microbial research, industrial and development platform for enzyme screening, protein engineering, genetic engineering, and fermentation process optimization. GenScript recently established a biocatalysis research institute in Shanghai with the aforementioned facilities to grab a hold in the Asian Pacific synthetic biology market.
Integrated DNA Technology (IDT)
IDT is recognized as a leader in the manufacturing of genomic solutions and nucleic acid products. All of its duplex and single-stranded DNA sequences are produced with industry-leading coupling efficiencies that result in higher quality DNA products. The company hosts the Synthetic Biology Start-up Grant Program to demonstrate its commitment to synthetic biology research. The program has significantly benefitted innovative start-ups in their mission to impact sustainable manufacturing and development. Helix Nanotechnologies, a seed-stage start-up, was the winner of the latest program. The company won the awards for their contribution in developing next-generation mRNA therapeutics and for enabling technologies for cancer neoantigen vaccines. Current neoantigens vaccine efficiency is based on a hit and trial process and the company aims to collaborate with IDT to develop precise neoantigens and fusion proteins to boost neoantigen immunogenicity. The encouragement and platform provided from IDT to start-ups have advocated the growth in synthetic biology technologies.
Synthetic biology is the forthcoming advance stage to the biotechnology field. The innovations in the biotechnology sector have emerged with optimized design and information of biological components, biological systems, and devices for industrial and commercial purposes. Developments in the sector are anticipated to improve the current conditions in the healthcare sector. The prominent need to achieve healthy longevity in life expectancy is augmented to drive the synthetic biology market in near future.
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